*LEGAL DESCRIPTION

30-Yr Fixed (Loan Amounts Up to $548,250) has a fixed rate for the entire loan term of 30 years. The interest rate of 2.625% (2.716% APR) assumes a rate refinance loan in the amount of $450,000 and an estimated property value of $750,000 (60% loan to value) for an existing, single family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $1,807.43 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

20-Yr Fixed (Loan Amounts Up to $548,250) has a fixed rate for the entire loan term of 20 years. The interest rate of 2.375% (2.486% APR) assumes a rate refinance loan in the amount of $450,000 and an estimated property value of $642,857 (70% loan to value) for an existing, single family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $2,357.25 is due each month for 240 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed (Loan Amounts Up to $548,250) has a fixed rate for the entire loan term of 15 years. The interest rate of 1.990% (2.172% APR) assumes a rate refinance loan in the amount of $450,000 and an estimated property value of $750,000 (60% loan to value) for an existing, single family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $2,893.72 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed (Loan Amounts Up to $822,375) has a fixed rate for the entire loan term of 30 years. The interest rate of 2.875% (2.929% APR) assumes a rate refinance loan in the amount of $700,000 and an estimated property value of $1,000,000 (70% loan to value) for an existing, single family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $2,904.25 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

20-Yr Fixed (Loan Amounts Up to $822,375) has a fixed rate for the entire loan term of 20 years. The interest rate of 2.500% (2.581% APR) assumes a rate refinance loan in the amount of $600,000 and an estimated property value of $1,000,000 (60% loan to value) for an existing, single family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $3,179.42 is due each month for 240 months. The rate lock period is 30 days and the assumed credit score is 760.

15-Yr Fixed (Loan Amounts Up to $822,375) has a fixed rate for the entire loan term of 15 years. The interest rate of 2.125% (2.289% APR) assumes a rate refinance loan in the amount of $600,000 and an estimated property value of $1,000,000 (60% loan to value) for an existing, single family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $3,895.68 is due each month for 180 months. The rate lock period is 30 days and the assumed credit score is 760.

30-Yr Fixed (Loan Amounts Up to $2.5 million) has a fixed rate for the entire loan term of 30 years. The interest rate of 2.990% (3.104% APR) assumes a rate refinance loan in the amount of $1,000,000 and an estimated property value of $1,666,667 (60% loan to value) for an existing, single family house located in Contra Costa County, CA, expected to be used as a primary residence. The loan payment of $4,210.65 is due each month for 360 months. The rate lock period is 30 days and the assumed credit score is 760.

Adjustable-Rate Mortgage (“ARM”) Loans: All loans are amortized over a 30-year period and are subject to an interest rate adjustment on specific dates, also known as change dates.

7-year ARMs: Fixed for first 7 years, then adjusts every 6 months for the remaining 23 years. Rate caps: 5/1/5.

10-year ARMs: Fixed for first 10 years, then adjusts every 6 months for the remaining 20 years. Rate caps: 5/1/5.

Adjustment Rate:  When the ARM begins to adjust after the initial fixed rate period, the interest rate is calculated by adding the index to the margin and rounding to the nearest 1/8th of one percent (0.125%).

The adjusted rate is also known as the “fully indexed rate.”

When an ARM adjusts, the payment is based on the current unpaid balance of the loan, the new interest rate and remaining term of the loan.

ARM Caps:  The CAPS on an ARM determine how much a rate can adjust up or down at each change date over the life of the loan. Initial Cap / Periodic Cap  / Lifetime Cap

Initial CAP: The max amount a rate can adjust up or down on the first change date. 

Periodic CAP:  The max amount a rate can adjust up or down on each subsequent change date. 

Lifetime CAP:  The max amount a rate can adjust up or down over the life of a loan. 

The rate will never fall below the margin since it is calculated by adding the index to the margin, which remains constant.

SOFR Index:  The SOFR Index is a secured interbank overnight interest rate and reference rate, which is published in several currencies for contracts worldwide.

The 30-day average of SOFR is published by The Federal Reserve Bank of New York.  This index is used to calculate the adjustments after the fixed period of an ARM.

These rates are not guaranteed and are subject to change. Rates shown are not available in all areas. This is not a credit decision or a commitment to lend. Your guaranteed rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.